No Exam life Insurance – Guide to the Top 15 Companies (2019 Update)

No Exam Life Insurance- Guide to the Top 15 Companies

Practically everyone has seen commercials about the availability of no exam life insurance products

…Applying for them appears easy with quick approval promised.

But, do you really know what you’re buying and whether you are really getting the best deal?

There are actually a wide range of life insurance products which fall into what are referred to as no-exam policies, and at least 15 top no exam life insurance companies.

They vary quite significantly in their cost, coverage amounts, approval times, and medical questions, so be very cautious before jumping on the band wagon.

Quick Guide to No Exam Life Insurance:

1. Types of No Exam Life Insurance 
2. Top 15 No Exam Life Insurance Companies 
3. Not all Policies are Equal 

First, I’m going to quickly preview 6 different types of policies which qualify as no exam life insurance. Next, I’ll provide you with a list of the no-exam products offered by some of the top 15 life insurance companies.

We’ve also recently updated our list to include a top-rated insurer that offers no exam term insurance that does even require a phone call or an interview for approval! With this company you can submit your application, receive a decision, and have you policy issued online in less than 20 minutes!

Types of No Exam Life Insurance

As mentioned above, there are six types no exam life insurance policies that are offered by insurers. These options include:

  • Simplified Issue Term Life Insurance— The death benefits here can range from $50,000 – $500,000 and is generally No Exam Life Insuranceavailable for those between 21-65 years of age. The term provided can be 10, 15, and 20 years. If you’re between the ages of 66 and 75, you can qualify for a 10 year term and up to $99,999 of coverage.
  • Simplified Issue Universal Life (UL) —These types of policies provide death benefits ranging from between $25,000 – $500,000 range, and are also available for ages 21-65. The cost and the available death benefit are fixed for life.
  • Level Death Benefit Whole Life — These products are similar to the one above as both the cost and the death benefits are fixed for life. What differentiates these products is that you can apply for coverage up to and including age 80. However, the death benefits are smaller and generally range from between $5,000 – $50,000.
  • Graded Benefit Whole Life — The policies are also at a fixed cost for life, but they are available for those who have much more serious health issues. Because they are more liberal in their approval types, they cost more. A noteworthy feature in regard to these policies is that the death benefits are reduced in the first two – three years while the policy death benefits range from between $5,000 – $25,000.
  • Rapid Decision Senior Whole Life — These death benefits are available to seniors who are between 65- 85 years of age and the policy limits range from between $10,000 – $25,000.
  • Guaranteed Issue or “GI” policies — These policies do not ask any health questions whatsoever. These are ideal for those who have very serious health issues or the elderly. Death benefits range from $5,000 – $25,000.

Top 15 No-Exam Life Insurance Companies

Here’s our quick preview of the top 15 life insurance companies which offer no medical exam life insurance. Keep in mind that only a handful of companies actually offer these products and they are not available through every insurer.

1. American National Life Insurance Company

Product Types and Features:
Freedom Term Life Insurance – Provides death benefits up to $250,000 with terms available for 10, 20 and 30 years. Policy approval in as little as 15 minutes
ValueGuard Whole Life Insurance – A Whole life policy with death benefits up to $150,000 and policy approval in as little as 15 minutes
Legacy Whole Life Insurance – Coverage available up to $25,000, available for age 50 – 80, a 2 year Graded Death Benefit (meaning you must survive the first 2 years) and approval time as little as 5 minutes. Policy amounts and premiums are fixed for life.


Product Types and Features:
Term Policy – Death benefits up to $250,000 and available in terms for 15, 20, 25 and 30 years. If death occurs due to an accident, policyholder may receive an additional 25%. Provides a premium refund option. Brief medical questionnaire required.


Product Types and Features:
NonMed Term 350 – Provides death benefits up to $350,000 and available for those between 18 and 65 years of age.No Exam Life Insurance- Product Types and Features
Term 350 Plus – Also provides death benefits to $350,000 and coverage up to age 74, but this policy requires a full medical exam.
Simplified Issued Life Insurance Policy – Benefits vary and are based on both the applicant’s  and insured’s health questionnaire and medical history.
Single Premium – Provides guaranteed death benefit and a single premium payment.
Premier Universal Life – May provide death benefits up to $50,000 with flexible payment plan. Cash back value accumulation feature available after 11 years.


Product Types and Features:
Graded Term and Whole Life – Death benefits up to $50,000 and term products may be available up to age 90 with no medical exam required. Guaranteed products have a 2 year Graded Death Benefit requirement.


Product Types and Features:
Term & Graded (Term/Whole) – Provides death benefits up to $300,000 and term policies may include, 5, 10, 15, 20, and 30 years. Graded death benefit policies require a brief questionnaire and have a 3 year waiting period. Several riders are available.
Lightning Term – Term life insurance has 8 different coverage amounts available including $100,000, $90,000, $80,000, $70,000, $60,000, $50,000, $40,000, or $30,00, and is available for ages 18 to 64. Your term length will be based on your age and coverage ends at age 75.


Product Types and Features:
Term Insurance – With death benefits up to $250,000 and terms available for 10, 20, 25, and 30 years. For those who apply after age 55, maximum death benefits are set at $150,000
Burial Insurance – Death benefits to a maximum of $35,000 and available up to age 85.
PlanRight Whole Life Insurance – Comes in 3 types including 1) Fixed Death Benefits – where death benefits are face value from when you purchase the policy 2) Graded Death Benefits – limited death benefits for first 2 years 3) Modified Death Benefits – limited death benefits for first 2 years.


Product Types and Features:
Guaranteed Policies – Provides death benefits up to $25,000 and policy is for life. Can be applied for by phone or application and has a 2 year waiting period.


Product Types and Features:
Term Insurance – Death benefit coverage up to $100,000. Issue age up age 70 with the Simplified Term Plan available to age 90.


Product Types and Features:
Term and Graded No Exam – The maximum death benefits for their policies extends to $400,000 with an exam, and policies for $250,000 and under, do not require a medical exam. Terms are available for 15, 20, and 30 years plus. Various riders and cancer/stoke/heart provisions may be available in some states.The Top Life Insurance Companies for No Exam Life Insurance
Permanent Insurance – Provided in the form of Whole Insurance for policy amounts from $2,000 – $40,000 and available for those in the age range 45-85. Medical information reviewed will include Medical Information Bureau and Prescription Data Base.


Product Types and Features:
Term – For term insurance the maximum death benefits are $250,000 with available term durations of 10, 20, and 30 years. Underwriting is very fast and approval could occur within 24 hours.
Graded Policies – The graded policies have a 3 year waiting period. The payouts for the first year include the return of premium plus 15 % interest, the second year is a 30 % payout on the total of the policy, and the 3 year is a 60% payout on the policy and 100% beginning in year 4.


Product Types and Features:
Term – The term policies cover up to maximum death benefits of $350,000 and the terms available are for 10 and 20 years. Approval rates can occur in as little as 15 minutes but underwriting medical questions are more extensive and detailed. Applications must occur through an insurance agent.


Product Types and Features:
Term – Death benefits maximum is set as $100,000 . Issue ages are 30 – 74 and policies are renewable to age 80 while premiums may increase in increments of 5 years.
Permanent – Permanent no-exam policies are available with a maximum of $50,000 in death benefits
Guaranteed Issue – Policy provides up to a maximum in $15,000 death benefits and has limited policy payout provisions for the first 2 years of coverage.


Product Types and Features:
Term – Provides a maximum death benefit up to $1,000,000 in benefits which is the highest available, and provide terms for 10, 15, 20, and 30 years. Full selection of riders is available along with a convertibility option to permanent insurance. Exclusive to those who qualify for Preferred or Preferred Best ratings and require a telephone interview and checks though the Medical Information Bureau, MVR and Rx databases through companies like Intelliscript.
Guaranteed Universal Life – Will cover applicant to age 121 and provide a maximum death benefit of up to $1,000,000 with similar interview and medical screening checks as per above.


Product Types and Features:
Term – No exam term policies are available with a maximum death benefits ranging from $25,000 – $500,000, and with terms available for 10, 15, and 20 years. No telephone interview is required and this policy has a variety of ratings available for approval, along with several riders to select from. Very fast approval times and competitive rates
Guaranteed Universal Life – Permanent life insurance policies or lifetime coverage with similar death benefit amounts.


Product Types and Features:
Term – Provides maximum death benefits up to $200,000 to issue age 45, and a maximum of $150,000 in death benefits to issue age 65. Will cover some additional ratings for those not in excellent health including diabetics.
Graded Policies – Are available with a 2 year waiting period, providing a return of premium and rate of interest for those first 2 years.


Product Types and Features:
Term – Provides death benefits ranging from $25,000 up to $500,000 in 25,000 increments. This company is ideal for applicants under age 70 who are in average to excellent health.

Motorists Life does not require a phone interview with an underwriter, and you won’t have to speak with an agent to purchase a full-underwritten policy with immediate coverage. After you complete your application and click submit, you’ll receive a decision in less than 3 minutes.

To learn more about the Motorists Life Insurance Company, please read our article, “The Easiest Way to Buy Life Insurance Online (Approvals in Less than 20 Minutes).” You can also recent a free quote online to compare rates from dozens of companies below.

Not All No-Exam Policies Are Equal

As you can see, no exam policies vary quite significantly from insurer to insurer. So, don’t just apply for any policy advertised on television or the Internet because you may not be getting either the best policy or the most affordable no-exam policy.

Usually these types of policies are more expensive. That’s because the insurance company is relying on you to provide information about your health and any medical conditions or history, and that entails risk on their part. Naturally, they’re going to charge higher premiums for life insurance without a medical exam than they do for persons who undergo the physical examination. FinancialWeb.com

The wisest approach in finding the right no-exam policy for your particular circumstances is to use an independent agent such as the ones here at JRC because we have access to over 45 companies. We can look at your history and find you the no exam policy that suits your unique needs.

Call us today at 855-247-9555 today if you think you need or want no-exam life insurance – we can help!

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Cliff Pendell

VP of Marketing at JRC Insurance Group
Cliff is a licensed life insurance agent and one of the owners of JRC Insurance Group. He has helped thousands of families of businesses with their life insurance needs since 2012 and specializes with applicants who are less than perfect health. In his spare time he enjoys spending time with family, traveling, and the great outdoors.
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